Legal & General Group (LON:LGEN) Sets New 1-Year High on Insider Buying Activity

Key Points

• Legal & General Group shares reached a new 52-week high, trading as high as GBX 304 after closing at GBX 300.40, with roughly 13.7 million shares changing hands.
• Insider Mark Jordy purchased 3,494 shares at an average price of GBX 303, representing a total investment of approximately £10,587.
• Analysts remain mixed, resulting in a consensus “Hold” rating and an average target price of GBX 256, below the stock’s recent trading level.

Legal & General Group Plc (LON:LGEN - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after an insider bought additional shares in the company. The company traded as high as GBX 304 and last traded at GBX 302.73, with a volume of 13709886 shares trading hands. The stock had previously closed at GBX 300.40.

Specifically, insider Mark Jordy bought 3,494 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average price of GBX 303 per share, with a total value of £10,586.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reissued an "underperform" rating and set a GBX 255 target price on shares of Legal & General Group in a research note on Wednesday, July 29th. Citigroup increased their price target on shares of Legal & General Group from GBX 249 to GBX 251 and gave the company a "neutral" rating in a report on Tuesday, June 9th. Jefferies Financial Group cut Legal & General Group to an "underperform" rating and set a GBX 185 price objective on the stock. in a research report on Tuesday, May 5th. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 308 price objective on shares of Legal & General Group in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Legal & General Group has a consensus rating of "Hold" and a consensus target price of GBX 256.

Legal & General Group Stock Up 0.8%

The stock's fifty day moving average price is GBX 285.22 and its 200-day moving average price is GBX 268.33. The company has a quick ratio of 0.50, a current ratio of 59.08 and a debt-to-equity ratio of 1,100.04. The company has a market capitalization of £16.57 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.34 and a beta of 0.79.

Legal & General Group Company Profile

Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates in Legal & General Retirement Institutional (LGRI), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), and Retail segments. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.

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